The real estate market in Ghana is expanding rapidly in tandem with the nation’s development. Now is a fantastic moment to purchase real estate in Ghana. According to Statista, Ghana’s real estate market is expected to witness significant growth in the coming years. With a predicted market volume of US$389.10 billion in the same year, Residential Real Estate is anticipated to lead all other market sectors.. This makes Ghana’s real estate a hot cake for investors.
About investing in Ghana’s real estate
Over the past ten years, development, a rising middle class, and population expansion have all contributed to Ghana’s real estate market’s significant growth. There has been a surge in the market for luxury and high-end real estate in Accra and other large cities.
Ghana is a great destination to consider real estate investment. A steady economy and expanding middle class make now the ideal time to invest in the nation’s real estate market. In this blog, we examine a few of Ghana’s most renowned cities that are suggested for real estate investment.
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Where To Invest In Ghana’s Real Estate Market
Ghana is made up of 16 regions with different cities. Out of these cities, the following regions and their corresponding cities are noted for real estate investment.
Accra
Ghana’s real estate industry has been expanding, with notable growth in Accra in particular. In Ghana, the return on investment (ROI) from real estate can be very appealing, often between 8% and 12% per year. Real estate investment is beneficial in Accra’s wonderful neighborhoods because of its amazing amenities. Some of these neighbourhoods are listed below.
- Osu
Osu in Accra has emerged as a highly sought-after location for property buyers, and there are several compelling reasons for this trend. Nestled in the heart of Ghana’s vibrant capital, Osu distinguishes itself through a unique blend of attributes that set it apart from other real estate markets, not just in Accra but across the country. - East Legon
One of the key factors that makes East Legon attractive is its balance between being a peaceful residential area and having access to commercial and entertainment centers. unlike the bustling city center of Accra or the more industrial Tema, East Legon offers a quieter environment. - Trasacco
Trasacco is a nice place to live outside of Accra, which is Ghana’s capital. The lush green landscaping and modern features of this beautiful property make it a great place to live. It is on more than 500 acres of land with hills and valleys all around. It’s conveniently located close to major highways, making it easy for residents to access nearby cities such as Tema or Kumasi without having to drive too far. - Tema
Buying property in Tema is a wise investment decision. The city’s strategically advantageous location, excellent infrastructure, and growing industrial presence make it an attractive destination for both residential and commercial investments. - West Legon
West Legon is very similar to East Legon, located approximately 13 km from the city center. Like East Legon, it is also home to many rich Ghanaians who travel in and out of the country with frequency. Despite it not being as popular as East Legon, it also has a wide array of serviced apartments and estate housing. - Roman Ridge
Roman Ridge is located West of Airport Residential. This is a great option if you want to be located in the center of the city, but away from the hustle and bustle. Due to its quiet nature, you will have to move to other areas such as Osu or Labone to find the amenities you need. - Cantonment
Another popular region that foreigners choose is cantonments. Because of the quiet it provides, it’s a terrific choice, particularly if you’re travelling with family. Although it doesn’t have as many amenities as Airport Residential, Osu, which is considered the “heart” of Accra and is home to numerous eateries, cafes, bars, shops, and other establishments, is just a five-minute drive away. - Airport Residential Area
Airport Residential Area is in a prime position in Accra and offers a modern, safe, quiet, and clean environment.Everything you need is close by in the neighbourhood. The Kotoka International Airport is just a 5-minute drive away, which is rather handy—especially when you realise how challenging Accra’s traffic can be. It offers a selection of great amenities around; restaurants, cafes, schools, hotels, pharmacies, you name it.
Kumasi
For both residents and investors, Kumasi has a variety of housing options. There are 148,413 dwelling units in the city, with an average household size of 3.9 and a population of 12 persons. Investors in real estate, the Kumasi rental market offers enticing prospects. The demand for rental houses is expected to continue high due to the city’s expanding population and economy.
Takoradi
The vibrant city of Takoradi is found in Ghana’s Western Region. With a population of about 467,000, the city occupies 38 square km. The city’s stunning beaches are well-known and draw both residents and visitors. Takoradi’s real estate market offers a diverse range of properties for sale, from one bedroom to five bedroom apartments to more reasonably priced choices including duplexes and single-family homes. You can locate a house in this dynamic city that suits your needs, regardless of your preferences or budget.
Cape Coast
Cape coast has a beautiful landscape with the ocean making it an ideal place for commercial investment. The town is made up of wide stretch of land with rich culture and history making it an amazing place for expats.
People Also Ask – FAQs
Where is the best place to invest in real estate in Ghana?
Talking of the best place to invest in Ghana it will depend on so many factors. One must consider the purpose of the investment and the available amenities in the neighbourhood to make such decision.
Is real estate a good investment in Ghana?
The Ghanaian real estate market offers potential returns on investment in both residential and commercial properties. With a growing economy and stable political climate, investing in real estate in Ghana is a smart move for those looking to diversify their investment portfolio and secure long-term financial stability
What is the best investment in Ghana now?
1.Buy and Hold: The Time-Tested Strategy.
2.Short-Term Rentals: Adapting to Changing Demands.
3.Adaptive Reuse Projects.
4.Sustainable and Eco-Friendly Development
5.Tech-Driven Investments
Conclusion
Real estate investment in Ghana has proved to be one of the investment strategies in Ghana with a higher ROI. Top cities in Accra like East Legon, Trasacco, Osu, West Legon, Cantonments, etc. has become the top neighborhoods mostly invested in the area of real estate in Ghana. There are cities in Takoradi, Kumasi, Cape Coast with vast last and opportunities for real estate investment. If you are looking to invest in any of these neighborhood, look no further than BOT Properties Ltd. for amazing real estate deals. For those looking to buy properties in Ghana reach out to BOT Properties Ltd.